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[OP-ED]: Postponing the next recession?

 06/30/2017 - 08:37
Economists from the Bank for International Settlements (BIS) in Basel, Switzerland -- a bank for government central banks -- find that the pass-through from wage increases to price increases has weakened. If this is confirmed and continues, it implies that inflation will remain tame for some time even if the economy continues to grow. EFE

This is not your father’s inflation -- and that’s good news. Business cycles often end when higher inflation causes a country’s central bank (the Federal Reserve in the United States) to raise interest rates, slowing the economy and, perhaps, triggering a recession. The good news: The next recession may be delayed, because the Phillips Curve has shifted.

Orient Express: Trump travels to Israel to discuss peace process

 05/22/2017 - 05:49
The US Air Force One carrying US President Donald J. Trump and US First Lady Melania Trump approaches Ben Gurion Airport, in Lod outside Tel Aviv, Israel, May 22, 2017. EPA/JIM HOLLANDER

US President will tour Tel Aviv and Jerusalem today, after a weekend in Ryadh, prioritizing trade deals over human rights concerns. During his visit to Israel, Trump is expected to meet prime minister with Benjamin Netanyahu and later with Palestinian leader Mahmoud Abbas to discuss an eternal goal: an "ultimate peace deal."

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[OP-ED]: Will robots dis-employ us all?

 05/11/2017 - 10:11
The robots won’t steal all our jobs, because their efficiencies will create more purchasing power for other spending or new products that require human involvement and oversight. For proof, consider smartphones. In 2012, they had created nearly 500,000 jobs for “mobile apps,” up from zero in 2007.

 We have yet another study that debunks the widespread notion that robots -- and other forms of automation, including “artificial intelligence” -- will destroy our jobs and lead to a future of permanently high unemployment. According to the study, that would completely rewrite history, which has shown job creation to be an enduring strength of the U.S. economy.

Plain Text Author: 
Robert J. Samuelson